Monday, March 12, 2007

ByMark LacterTribune update: At last some specifics about Sam Zell's proposal to take over the Chicago-based parent of ther LAT. Barron's reported over the weekend that the offer is valued at about $13 billion, with Zell putting in as much as $300 million. The plan, which Tribune directors could consider at a meeting on Saturday, involves Zell being in partnership with an employee stock ownership plan. Zell, in effect, would hand over control of Tribune to the ESOP. In return, tax deductions generated by the ESOP will sweeten the share price that Tribune could pay existing shareholders. Barron's reported that Zell wants to become chairman of the surviving entity.

Google+ Badge

Contact Edward

ed.padgett@gmail.com

ESET NOD32 Antivirus 7

Purchase and download here

ONE LOVE GEAR

Reggae Clothing

About this blog and The Pressmens Club

The blog was started to talk about issues impacting the pressroom both positively and negatively. The views expressed here are not of the LA Times, but of each individual's opinion. The Pressmen's Club is composed of men and women who have printed the paper for twenty years or more. Semi-annual dinners are held in March and October. See Ed Padgett for more information.